USD Coin (USDC): Yet Another "What is USDC?" Article...🙄 But NO! 💰

about 4 years ago (Edited)

Why would you want USD Coin (USDC)? instead of real paper moeny?

Because USD Coin (USDC) has a stable price (stablecoin) and 1 USDC is always $1 USD!? 🤔

What is USD Coin (USDC)? source

U̶S̶D̶ ̶C̶o̶i̶n̶ ̶(̶U̶S̶D̶C̶)̶ ̶i̶s̶ ̶a̶ ̶r̶e̶l̶a̶t̶i̶v̶e̶l̶y̶ ̶f̶r̶e̶s̶h̶ ̶s̶t̶a̶b̶l̶e̶c̶o̶i̶n̶ ̶p̶e̶g̶g̶e̶d̶ ̶t̶o̶ ̶t̶h̶e̶ ̶U̶S̶ ̶d̶o̶l̶l̶a̶r̶.̶ ̶I̶t̶ ̶w̶a̶s̶ ̶l̶a̶u̶n̶c̶h̶e̶d̶ ̶o̶n̶ ̶S̶e̶p̶t̶e̶m̶b̶e̶r̶ ̶2̶6̶,̶ ̶2̶0̶1̶8̶,̶ ̶i̶n̶ ̶c̶o̶l̶l̶a̶b̶o̶r̶a̶t̶i̶o̶n̶ ̶b̶e̶t̶w̶e̶e̶n̶ ̶C̶i̶r̶c̶l̶e̶ ̶a̶n̶d̶ ̶C̶o̶i̶n̶b̶a̶s̶e̶.̶ ̶U̶S̶D̶C̶ ̶i̶s̶ ̶a̶n̶ ̶a̶l̶t̶e̶r̶n̶a̶t̶i̶v̶e̶ ̶t̶o̶ ̶o̶t̶h̶e̶r̶ ̶U̶S̶D̶ ̶b̶a̶c̶k̶e̶d̶ ̶c̶r̶y̶p̶t̶o̶c̶u̶r̶r̶e̶n̶c̶i̶e̶s̶ ̶l̶i̶k̶e̶ ̶T̶e̶t̶h̶e̶r̶ ̶(̶U̶S̶D̶T̶)̶ ̶o̶r̶ ̶T̶r̶u̶e̶U̶S̶D̶ ̶(̶T̶U̶S̶D̶)̶.̶ ̶
I̶n̶ ̶a̶ ̶n̶u̶t̶s̶h̶e̶l̶l̶,̶ ̶U̶S̶D̶ ̶C̶o̶i̶n̶ ̶i̶s̶ ̶a̶ ̶s̶e̶r̶v̶i̶c̶e̶ ̶t̶o̶ ̶t̶o̶k̶e̶n̶i̶z̶e̶ ̶U̶S̶ ̶d̶o̶l̶l̶a̶r̶s̶ ̶a̶n̶d̶ ̶f̶a̶c̶i̶l̶i̶t̶a̶t̶e̶ ̶t̶h̶e̶i̶r̶ ̶u̶s̶e̶ ̶o̶v̶e̶r̶ ̶t̶h̶e̶ ̶i̶n̶t̶e̶r̶n̶e̶t̶ ̶a̶n̶d̶ ̶p̶u̶b̶l̶i̶c̶ ̶b̶l̶o̶c̶k̶c̶h̶a̶i̶n̶s̶.̶ ̶B̶e̶s̶i̶d̶e̶s̶,̶ ̶U̶S̶D̶C̶ ̶t̶o̶k̶e̶n̶s̶ ̶c̶a̶n̶ ̶b̶e̶ ̶c̶h̶a̶n̶g̶e̶d̶ ̶b̶a̶c̶k̶ ̶t̶o̶ ̶U̶S̶D̶ ̶a̶t̶ ̶a̶n̶y̶ ̶t̶i̶m̶e̶.̶ ̶T̶h̶e̶ ̶e̶x̶e̶c̶u̶t̶i̶o̶n̶ ̶o̶f̶ ̶i̶s̶s̶u̶i̶n̶g̶ ̶a̶n̶d̶ ̶r̶e̶d̶e̶e̶m̶i̶n̶g̶ ̶U̶S̶D̶C̶ ̶t̶o̶k̶e̶n̶s̶ ̶i̶s̶ ̶e̶n̶s̶u̶r̶e̶d̶ ̶w̶i̶t̶h̶ ̶E̶R̶C̶-̶2̶0̶ ̶s̶m̶a̶r̶t̶ ̶c̶o̶n̶t̶r̶a̶c̶t̶.̶ ̶
B̶r̶i̶n̶g̶i̶n̶g̶ ̶U̶S̶ ̶d̶o̶l̶l̶a̶r̶s̶ ̶o̶n̶ ̶t̶h̶e̶ ̶b̶l̶o̶c̶k̶c̶h̶a̶i̶n̶ ̶a̶l̶l̶o̶w̶s̶ ̶m̶o̶v̶i̶n̶g̶ ̶t̶h̶e̶m̶ ̶a̶n̶y̶w̶h̶e̶r̶e̶ ̶i̶n̶ ̶t̶h̶e̶ ̶w̶o̶r̶l̶d̶ ̶w̶i̶t̶h̶i̶n̶ ̶m̶i̶n̶u̶t̶e̶s̶,̶ ̶a̶n̶d̶ ̶b̶r̶i̶n̶g̶s̶ ̶m̶u̶c̶h̶-̶n̶e̶e̶d̶e̶d̶ ̶s̶t̶a̶b̶i̶l̶i̶t̶y̶ ̶t̶o̶ ̶c̶r̶y̶p̶t̶o̶c̶u̶r̶r̶e̶n̶c̶i̶e̶s̶.̶ ̶A̶l̶s̶o̶,̶ ̶i̶t̶ ̶o̶p̶e̶n̶s̶ ̶u̶p̶ ̶n̶e̶w̶ ̶o̶p̶p̶o̶r̶t̶u̶n̶i̶t̶i̶e̶s̶ ̶f̶o̶r̶ ̶t̶r̶a̶d̶i̶n̶g̶,̶ ̶l̶e̶n̶d̶i̶n̶g̶,̶ ̶r̶i̶s̶k̶-̶h̶e̶d̶g̶i̶n̶g̶ ̶a̶n̶d̶ ̶m̶o̶r̶e̶.̶
YES!!! Everything! ⤴️ But NO! TL;DR

But What is USD Coin (USDC)?

Do you like mixtape?

source

But don't you want that on your phone or computer or... anywhere?

Like Spotify? Pandora? Apple Music? YouTube Music? Yes, Yes, Yes and...

YES!!! Everything! ⤴️ But WHY?

Because music is everywhere, for everybody and anytime! It is digital, programmable, and virtual.

Don't you want that for your money? or do you still want that "cassette tape" paper money?

YES!!! Everything! ⤴️ Why not BOTH!

USD Coin is exactly like this US Dollars but it is digital, programmable, and virtual!

AND since it is digital, things get more interesting like Music Streaming!

No! There is no money streaming into your phone yet, but interest will stream into your account!

BlockFi, crypto asset management company based in NY, raised $30 Million Series B funding today to expand their business.

https://blockfi.com/blockfi-news/blockfi-raises-series-b-led-by-valar-ventures/

And they offer crypto financial products like crypto-based interest account (BIA) which you can earn 8.6% compound interest on USD Coin.

BlockFi is the only crypto company to offer a suite of financial products that seamlessly interact with one another. These products include crypto-based interest accounts providing up to an 8.6% annual percentage yield on Bitcoin, Ether and stablecoins; crypto-backed loans which allow investors to access liquidity up to 50% of an asset’s value in USD; and zero-fee trading. The company now boasts more than $650M in assets on the platform, with a 0% loss rate across its entire loan portfolio since the company began lending in January 2018.